Remarks at the New Jersey Bankers Association Economic Forum, Iselin, New Jersey.

Remarks at the Center for the New Economy 2010 Economic Conference, San Juan, Puerto Rico.

Countries' concerns about the value of their currency have been studied and documented extensively in the literature. Capital controls can be—and often are—used as a tool to manage exchange rate fluctuations. This paper investigates whether countries can benefit from using such a tool. We...